Plain language law

New Zealand law explained for everyone

Tax Administration Act 1994

Binding rulings - Product rulings

91FB: Application of a product ruling

You could also call this:

"How to use a product ruling to help with your taxes"

Illustration for Tax Administration Act 1994

You can use a product ruling for a tax type if the ruling mentions the tax type. You can use it only for the period or tax year it applies to. A product ruling is like a guide to help you with your taxes. You cannot use a product ruling if the situation is very different from what the ruling says. You also cannot use it if there was wrong or missing information when you applied for the ruling. The ruling might not apply if it was based on an assumption that later turns out to be wrong. It also might not apply if the Commissioner sets a condition that is not met. If one of these things happens, the product ruling stops applying to you from the date it happens, unless the ruling says otherwise.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM354113.

Topics:
Money and consumer rights > Taxes
Previous

91FA: Effect of a product ruling, or

"What happens when you get a product ruling on tax"

Next

91FC: Applying for a product ruling, or

"Asking for a ruling on a tax law for a product or arrangement"

Part 5ABinding rulings
Product rulings

91FBApplication of a product ruling

  1. A product ruling on a taxation law for a tax type applies, whether in relation to an arrangement or otherwise,—

  2. only if the taxation law is expressly referred to in the ruling; and
    1. only for the period or tax year for which the ruling applies.

      1. A product ruling does not apply to a tax type, whether in relation to an arrangement or otherwise, to the extent to which, in relation to the tax type—

      2. the arrangement is materially different from the arrangement identified in the ruling; or
        1. there was a material omission or misrepresentation in, or in connection with, the application for the ruling; or
          1. the product ruling states an assumption that the Commissioner made about a future event or other matter, and the assumption subsequently proves to be materially incorrect; or
            1. the Commissioner stipulates a condition that is not satisfied.

              1. For the purposes of subsection (2), a product ruling ceases to apply to the person in relation to an arrangement and a tax type for the arrangement, from the date on which the relevant event described in subsection (2)(a), (b), and (d) occurs unless the ruling expressly provides otherwise.

              Notes
              • Section 91FB: inserted (with effect on 1 April 1995), on , by section 10 of the Tax Administration Amendment Act 1995 (1995 No 24).
              • Section 91FB(1): amended, on , by section 65(1) of the Taxation (Annual Rates for 2018–19, Modernising Tax Administration, and Remedial Matters) Act 2019 (2019 No 5).
              • Section 91FB(1): amended, on , by section 162(1) of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010 (2010 No 109).
              • Section 91FB(1)(b): replaced, on (applying on and after 20 May 1999), by section 91(1) of the Taxation (Accrual Rules and Other Remedial Matters) Act 1999 (1999 No 59).
              • Section 91FB(1)(b): amended, on (effective for 2005–06 tax year and later tax years, except when the context requires otherwise), by section YA 2 of the Income Tax Act 2004 (2004 No 35).
              • Section 91FB(2): amended, on , by section 65(2) of the Taxation (Annual Rates for 2018–19, Modernising Tax Administration, and Remedial Matters) Act 2019 (2019 No 5).
              • Section 91FB(2): amended, on , by section 162(2) of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010 (2010 No 109).
              • Section 91FB(2)(c): replaced, on , by section 149 of the Taxation (Transformation: First Phase Simplification and Other Measures) Act 2016 (2016 No 27).
              • Section 91FB(2)(d): inserted, on (applying on and after 20 May 1999), by section 91(2) of the Taxation (Accrual Rules and Other Remedial Matters) Act 1999 (1999 No 59).
              • Section 91FB(3): inserted, on , by section 65(3) of the Taxation (Annual Rates for 2018–19, Modernising Tax Administration, and Remedial Matters) Act 2019 (2019 No 5).